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Buy NRB Bearings; target of Rs 175: ICICI Direct

ICICI Direct is bullish on NRB Bearings recommended buy rating on the stock with a target price of Rs 175 in its research report dated November 15, 2021.

November 17, 2021 / 03:06 PM IST
 
 
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ICICI Direct's research report on NRB Bearings


NRB was incorporated in 1965 as an Indo-French venture and pioneered the production of needle and roller bearings in India. NRB is India’s largest needle and cylindrical roller bearings producer. Today 90% of vehicles on Indian roads run on NRB parts • It exports its product to many countries such as France, Italy, US, Mexico, Brazil, Thailand and Bangladesh. It has a revenue breakup of 78% from domestic sales and 22% from export.


Outlook


We value NRB at Rs 175 i.e. 18x P/E on FY23E EPS.


For all recommendations report, click here

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first published: Nov 17, 2021 03:06 pm

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